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All Forum Posts by: Quentin Forbes

Quentin Forbes has started 6 posts and replied 24 times.

Post: Wrapping FHA Loans allowed or not allowed

Quentin ForbesPosted
  • Suffolk, VA
  • Posts 28
  • Votes 5
Ken Min thanks for that information! That helps!

Post: Wrapping FHA Loans allowed or not allowed

Quentin ForbesPosted
  • Suffolk, VA
  • Posts 28
  • Votes 5
Ken Min Jonathan Damon thanks for your input! Yes that's exactly how I want the transaction to go "the clean way" and professionally. I plan on using the end buyer funds to bring the mortgage current and give some money to the seller at closing. Keep the deed in the seller name for 2-3-5 years. Once that year is met then the deed will transfer into the end buyer name. I basically will play the middle man, once I assign the contract to the end buyer then I'm out. Is that considered "the clean way" Ken Min ? And doing it that way, will the title company still back away from it?

Post: Wrapping FHA Loans allowed or not allowed

Quentin ForbesPosted
  • Suffolk, VA
  • Posts 28
  • Votes 5
Jonathan Damon I plan to flip it to another investor through a land contract so subj2 wasn't going to be option.

Post: Wrapping FHA Loans allowed or not allowed

Quentin ForbesPosted
  • Suffolk, VA
  • Posts 28
  • Votes 5
Cody L. Thanks for your response! If you don't mind me asking, have you wrapped an FHA mortgage in the past?

Post: Wrapping FHA Loans allowed or not allowed

Quentin ForbesPosted
  • Suffolk, VA
  • Posts 28
  • Votes 5
Scott Matthew C.

Post: Wrapping FHA Loans allowed or not allowed

Quentin ForbesPosted
  • Suffolk, VA
  • Posts 28
  • Votes 5
@Scott Matthew thanks for taking the time out to explain. I will definitely try it. It's seems that the seller is very motivated and will cooperate any way necessary

Post: Wrapping FHA Loans allowed or not allowed

Quentin ForbesPosted
  • Suffolk, VA
  • Posts 28
  • Votes 5
Scott Matthew C. Thanks for your response. Question, how do I get my hands on the mortgage agreement?

Post: Wrapping FHA Loans allowed or not allowed

Quentin ForbesPosted
  • Suffolk, VA
  • Posts 28
  • Votes 5
Wayne Brooks thanks!

Post: Wrapping FHA Loans allowed or not allowed

Quentin ForbesPosted
  • Suffolk, VA
  • Posts 28
  • Votes 5
Thanks Steven Picker

Post: Wrapping FHA Loans allowed or not allowed

Quentin ForbesPosted
  • Suffolk, VA
  • Posts 28
  • Votes 5
Hello Bp, Question, are title agents allowed to wrap FHA loans? I came across a property that is in pre foreclosure status and seller is looking to sell. I want to wholesale it but not sure if a title agent can wrap a FHA loan for term of 5 years. I really appreciate any feedback! Thanks